The education fund will invest in school buildings that are part of a large chain of operators. The firm aims to organise the sector by creating an institutional market for sale and lease back of school infrastructure in the country, Chhabra said.

Cerestra will also add on-campus student housing to its portfolio to become a full-service education infrastructure asset owner.

Cerestra also has a joint venture with Singapore-based fund Lighthouse Canton. Under this arrangement, it had acquired Alexandria Knowledge Park at Genome Valley in Hyderabad in 2016 with the objective of building a large cluster of third party-owned research and development infrastructure at a single location.